Manitobans may see a smaller increase to their hydro bills in the coming years than originally expected.
Manitoba Hydro has filed an update to its general rate application with the Public Utilities Board, asking to reduce the increase it had previously asked for.
Hydro had originally asked for a 3.5 per cent increase in each of the next two fiscal years but now it’s down to two per cent.
This change would mean an increase of less than $3 for the average customer without electric heating, and $6 a month for the average customer with electric heating, Hydro said in a release Friday.
The updated rate increase request comes after the provincial government announced in November it would help cut costs for customers by reducing the amount of money it gets from Hydro every year.
“The reduction announced by the government will help keep rates low for customers, and that’s great news when we know many customers are struggling with the cost of living,” Manitoba Hydro president and CEO Jay Grewal said in the release.
“The changes will allow us to start reducing our debt while continuing to make the needed investments in our system to maintain reliable service to our customers.
“They also ensure we have the financial resources available to address the risks created by factors out of our control like increasing interest rates, export prices and droughts like what we saw in 2021.”